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    FOR LEASE
    Office buildings

    1220 High St, Portsmouth, VA 23704

    1,852 SF 0.77 ac lot Built 1983
    Entity Owned 2-yr Hold Free & Clear
    Property ID
    US87-3980970
    Property summary
    AI-generated overview

    This exceptional freestanding retail building, situated in the desirable Mid-City submarket, offers a single-tenant occupancy of 1,886 square feet. Constructed in 1983, the property boasts a single-story design, providing convenient and efficient use of space. The building is well-maintained and features recent upgrades, including a brand new HVAC system and energy-efficient LED lighting in the parking lot. The interior includes a spacious shop area conveniently equipped with a roll-up door, ideal for loading and unloading merchandise or providing easy access for customers. This property presents a fantastic opportunity for a variety of retail businesses seeking a high-visibility location in a thriving commercial area. Its single-tenant configuration offers simplicity and control, while the modern upgrades ensure efficient and cost-effective operation. The strategic location within the Mid-City submarket guarantees high foot traffic and excellent exposure to potential customers. This is an ideal investment for owner-occupiers or savvy investors seeking a stable and profitable retail property. The property's size and features make it suitable for a wide range of retail concepts, offering significant potential for growth and return on investment. Serious inquiries are encouraged to explore this exceptional opportunity further.

    Property profile
    Verified
    Property type Office buildings
    Use group OFFICE BUILDING
    Year built 1983
    Construction LIGHT FRAME
    Total area 1,852 SF
    Lot 0.77 ac (33,541 SF)
    Zoning code NMU
    APN 0038-1310
    UPID US87-3980970
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    Economic Development Authority Of T · 2 yrs held
    Economic Development Authority Of T
    since 2024
    Last sale
    $315,000
    2 recorded transactions
    2024
    $315,000
    2005
    $285,000
    Zoning & alternative use
    NMU · Portsmouth, VA
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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